If you're an Apple iPhone user, Apple's $250 million settlement could put extra cash in your pocket. However, only certain iPhone owners qualify, and the deadline to file a claim is just months away. If you think you might be eligible, it's important to promptly file a claim.
Here's what to know about the settlement, the potential payment size, and how to file your claim.
Set up eligible direct deposit - pocket up to $400
Set up an eligible direct deposit with SoFi Checking and Savings and you could earn a bonus of $50 or $400.1 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 9/23/26. Fees may reduce earnings. Additional information can be found at <a href="https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SoFi-Bank-Rate-Sheet-September-23-2026.pdf">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> Make the switch, set up eligible direct deposit, earn the bonus. It basically takes no extra work at all other than following these steps.
Why people are switching: This account earns up to an insane 4.20% APY2 <p>Earn up to 4.20% Annual Percentage Yield (APY) on one SoFi Savings account with a 0.90% APY Boost (added to the 3.30% APY as of 9/23/26) for up to 6 months. Open your first SoFi Checking and Savings account and receive eligible direct deposits OR qualifying deposits of $5,000 every 31 days by 12/31/26. Rates are variable, subject to change. Terms apply at <a href="https://www.sofi.com/banking/#4">sofi.com/banking#4</a>. SoFi Bank, N.A. Member FDIC.</p> on savings for up to six months (3.30% APY standard + 0.90% APY boost) on top of that $50 or $400 bonus.1 <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more) OR $400 (with at least $5,000 total Eligible Direct Deposits received within 25 calendar days of your first Eligible Direct Deposit of $1 or more). Cash bonus amount will be based on the total amount of Eligible Direct Deposit received within 25 calendar days of your first Eligible Direct Deposit of $1 or more. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 5/15/2026 and will be available through 12/31/2026. Full terms at <a href="https://www.sofi.com/banking/">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.30% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.30% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 0.80% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 9/23/26. Fees may reduce earnings. Additional information can be found at <a href="https://d32ijn7u0aqfv4.cloudfront.net/wp/wp-content/uploads/raw/SoFi-Bank-Rate-Sheet-September-23-2026.pdf">http://www.sofi.com/legal/banking-rate-sheet</a>.</p> That's way better than the measly 0.38% APY (as of 06/15/26)3 <p>Based on <a href="https://www.fdic.gov/national-rates-and-rate-caps">this</a> FDIC data, as of 6/15/26.</p> national average savings accounts offer.
No monthly fees and no surprises. Open your account and earn up to a $400 bonus
The Apple class-action lawsuit and settlement
The class-action lawsuit centers around Apple's marketing of its iPhone 16 series in 2024. Apple promoted the phone as being a next-generation Siri tool, and marketing also focused on the Apple Intelligence AI tool. Apple also attested that the iPhone 15 Pro and Pro Max phones would include those same features.
The class-action lawsuit alleged that Apple didn't deliver on those features when the company said it would. The lawsuit also alleges that Apple knew it couldn't deliver on the features by the timeline it had been promoting. The updated Siri that was part of the promotion launched two years after Apple had advertised its release, and the lawsuit alleged that the marketing breached consumer protection laws by promoting features that didn't exist and weren't delivered.
Apple didn't admit wrongdoing, but the company agreed to a $250 million settlement.
Who is eligible for a payment
Individuals who purchased an iPhone 16, iPhone 16e, iPhone 16 Plus, iPhone 16 Pro, iPhone 16 Pro Max, iPhone 15 Pro, or iPhone 15 Pro Max may qualify for a payment. The phone must not have been purchased for resale, and the purchase must have occurred between June 10, 2024 and March 29, 2025. Additionally, purchasers must live in the U.S. and have purchased the iPhone in the U.S.
Potentially eligible settlement class members may receive a notice informing them of the settlement because they bought an eligible device. The notice explains facts like the benefits available, who is eligible, and how to file a claim. If you've received this notice, you don't automatically receive any benefits and still need to file a claim.
How to file a claim
If you believe you're eligible, you may file a claim at the official settlement website, SmartPhoneAISettlement.com. If you received a notice alerting you that you might be eligible, you may use your Claim ID and PIN to file a claim. You may also file a claim without that information.
When you file your claim, you'll need to submit your iPhone's serial number to verify that your device is eligible for a claim. To find your serial number, open your iPhone's settings, choose "General" and then "About," and find your serial number.
You may choose to receive your payment by physical check or digital check. You'll also need to provide your current contact information.
If you purchased multiple eligible devices during the qualifying time period, you may submit a claim form for each device. All claims must be filed by December 21, 2026, and missing the claim window means forfeiting the payment entirely.
Resolve $10,000 or more of your debt
National Debt Relief could help you resolve your credit card debt with an affordable plan that works for you. Just tell them your situation, then find out your debt relief options.4 <p>Please note that all calls with the company may be recorded or monitored for quality assurance and training purposes. Clients who are able to stay with the program and get all their debt settled realize approximate savings of 45% before fees, or 20% including our fees, over 24 to 48 months. All claims are based on enrolled debts. Not all debts are eligible for enrollment. Not all clients complete our program for various reasons, including their ability to save sufficient funds. Estimates based on prior results, which will vary based on specific circumstances. We do not guarantee that your debts will be lowered by a specific amount or percentage or that you will be debt-free within a specific period of time. We do not assume consumer debt, make monthly payments to creditors or provide tax, bankruptcy, accounting or legal advice or credit repair services. Not available in all states. Please contact a tax professional to discuss tax consequences of settlement. Please consult with a bankruptcy attorney for more information on bankruptcy. Depending on your state, we may be available to recommend a local tax professional and/or bankruptcy attorney. Read and understand all program materials prior to enrollment, including potential adverse impact on credit rating. "Debt-Free" applies only to enrolled credit cards, personal loans, and medical bills. Not mortgages, car loans, or other debts. Results vary.</p>
Sign up for a free debt assessment here.
How much money do settlement class members receive
According to the settlement website, class members who submit a valid claim form may receive $25 per eligible device. That amount might be increased pro rata up to $95 per eligible device, or it might be decreased pro rata depending on the total number of valid claim forms submitted.
When could payments be issued
The court must decide whether to approve the settlement during a final approval hearing, which is scheduled for February 24, 2027. Even if the settlement is approved, there might be appeals, and payments may be issued after the appeals are resolved. You may check the official settlement website for updates on the court process and when payments may be issued.
How to opt out of the settlement
If you wish to bring your own claim against Apple relating to the claims in this case, you must opt out of the settlement to be able to pursue your own lawsuit. To opt out, you may submit a request for exclusion in writing to Landsheft, et al. v. Apple Inc., Settlement Administrator, P.O. Box 301132, Los Angeles, CA 90030-1132.
You must include the case name and number, your contact information, a statement that you wish to opt out, and your signature and date. Your request must be postmarked by December 21, 2026.
Bottom line
The deadline to file a claim for this settlement is December 21, 2026, and it's quickly approaching. If you believe you're eligible, be sure to file a claim promptly, since there is no extension or second chance to file a claim once that window closes. You may find additional information on the official settlement website, SmartPhoneAISettlement.com.
This settlement is a separate case from other recent Apple-related payouts you may have heard about, so even if you didn't qualify for one of those payouts, you might qualify for this settlement if you purchased an eligible device during the time period. The extra bit of cash might help eliminate some money stress and give you some spending money.
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